RACE Technical Analysis - FERRARI NV

Technical Rating and Analysis

Taking everything into account, RACE scores 5 out of 10 in our technical rating. In the last year, RACE was a medium performer in the overall market. The medium term is still looking fine, but we see some doubts in the very recent evolution.

The short term is neutral, but the long term trend is still positive. Not much to worry about for now.

When comparing the performance of all stocks over the past year, RACE turns out to be only a medium performer in the overall market: it outperformed 43% of all stocks.

RACE is an average performer in the Automobiles industry, it outperforms 61% of 37 stocks in the same industry.

RACE is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so RACE is lagging the market.

In the last month RACE has a been trading in the 459.62 - 498.70 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

RACE has an average technical rating and the quality of the presented setup is also not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

400.95

522.84

We found 4 important support areas.

Support @450.33 from a trend line in the daily time frame.
A support zone ranging from 433.98 to 442.39. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 414.84 to 417.42. This zone is formed by a combination of multiple trend lines in the weekly time frame.
Support @405.00 from a horizontal line in the weekly time frame.

When analyzing the resistance we notice 3 important areas.

A resistance zone ranging from 478.60 to 490.38. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
Resistance @508.15 from a horizontal line in the daily time frame.
A resistance zone ranging from 517.66 to 517.66. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	UP	POSITIVE	The long term trend for RACE is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for RACE is neutral.
ChartMill Relative Strength	43	NEUTRAL	RACE is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of RACE is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of RACE is below a declining SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of RACE is above the rising SMA(200).
Relative Strength Index/RSI (14)	51.32	NEUTRAL	The RSI value for RACE is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.2	POSITIVE	The MACD value suggests RACE has a positive trend, although the MACD value is declining.
Stochastics (14,3)	35.88	NEUTRAL	The Stochastics value for RACE is a neutral value.
Average True Range in percent/ATR (20)	1.51	LOW VOLATILITY	The low ATR as a percentage value for RACE suggests low volalility.
Average Directional Index/ADX (14)	15.75	NEGATIVE	The low ADX value for RACE suggests a weak or negative trend.